A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Procter & Gamble said it appointed Nelson Peltz to its board despite the activist investor narrowly losing a months-long proxy fight, the biggest ever involving a U.S. company.
The company's shares were up 1 percent in after-market trading on Friday.
Immediately after its annual meeting in mid-October, P&G said it beat Peltz by a slim margin, but a preliminary tally by an independent election inspector, released a month later, showed otherwise.
"Because the election results were so close, and because a large number of shareholders voted for Nelson Peltz to be a director, the board has engaged in numerous discussions with Mr. Peltz regarding a board seat," P&G said on Friday.
The consumer goods conglomerate said it increased its board size by 2 to 13 — to accommodate Peltz and appoint a new director in Joseph Jimenez, CEO of drugmaker Novartis.
P&G said it had recounted nearly two billion votes, many of which were paper ballots.
The recount showed that shareholders elected all eleven P&G nominees, including Ernesto Zedillo, for whom the votes cast were extremely close to those for Peltz.
Following recent discussions, Peltz and P&G agreed that the company would not be predisposed to take on excessive debt, reduce R&D spending, advocate for a break-up of the company or move the company out of its headquarters in Cincinnati — demands Peltz had made during the proxy battle.
"I look forward to bringing fresh perspectives to the boardroom, and working collaboratively with (CEO) David and the rest of the board to drive sustainable long-term shareholder value at P&G," Peltz said in an email.
Peltz's appointment is the latest twist in a contest that saw the two sides collectively spend more than an estimated $100 million on mailings, phone calls and advertisements to woo investors.
Peltz's appointment is effective March 1 and the company also committed to re-nominate the investor as part of its board slate for next year's annual meeting, P&G said.
The company also said it would link executive compensation to its sales and stock performance.